The Isle of Man has approved a gaming license for a blockchain lottery.
The ethereum-powered lottery was developed by Qanta, which describes the drawing as fully transparent and fair, with provably random results. Smart contracts manage the process from end to end, the company said.
Obtaining a license from a national government was part of Qanta’s business development strategy, it said. The first step in its ticketing process verifies that the purchaser meets know-your-customer requirements.
The Isle of Man’s Gambling Supervision Commission has been “an incredibly supportive regulator, committed to understanding our unique technology” said Lee Hills, chief operating officer of Qanta, in a press release.